Petronas to Announce Another Asian Buyer in Canadian Shale Gas Project End-March

KUALA LUMPUR—Petroliam Nasional Bhd, Malaysia's state oil and gas company, said Friday it has agreed to sell a 10% stake in its Canadian liquefied natural gas project to Indian Oil Corp. Ltd.

As part of the deal, Indian Oil has agreed to offtake 1.2 million tons of LNG a year, or 10% of the output from a proposed export facility in Canada's West Coast, for at least 20 years. No financial details were disclosed.